Why Moreton Bay petrol prices are so high
Moreton Bay drivers are being hit harder at the bowser than most of South-East Queensland, according to new RACQ figures. But there is a reason.
RACQ’s June Quarterly Fuel Price Report shows the average cost of unleaded petrol in Moreton Bay was 190.9 cpl (cents per litre).
That put Moreton Bay ninth on a chart of 10 SEQ regions, with only Bayside/Redlands more expensive on 193.0 cpl, but well behind Brisbane South 184.7 cpl.
Diesel in Moreton Bay averaged 246.1 cpl for the quarter, finishing sixth on the chart, with Brisbane South again cheapest on 243.9 cpl.
RACQ’s Principal Economic and Affordability Specialist Dr Ian Jeffreys confirmed Brisbane South as the “cheapest region for fuel in South-East Queensland”.
“This is largely due to a dense pocket of cheaper independent sites in and around Rocklea which helps drive competition south of the river,” he said.
“Moreton Bay region unfortunately doesn’t have as many cheaper independent stations, meaning there is less competition in the market and subsequently higher prices.
“Moreton Bay is typically always at the more expensive end of the market due to its lack of competition, compared to other South-East Queensland regions.”
June Quarter Regular Unleaded
- Brisbane South 184.7
- Gold Coast 185.8
- Brisbane North 186.2
- Logan 186.7
- Brisbane Inner 187.7
- Ipswich 189.4
- Sunshine Coast 189.4
- Brisbane West 190
- Moreton Bay 190.9
- BNE Bayside-Redland 193.0
June Quarter Diesel
- Brisbane South 243.9
- Brisbane North 244.5
- Logan 244.6
- Gold Coast 244.8
- Ipswich 245.4
- Moreton Bay 246.1
- Sunshine Coast 246.2
- Brisbane West 246.3
- Brisbane Inner 247
- BNE Bayside-Redland 249.8
RACQ has called out fuel companies for seemingly trying to re-establish the unleaded price cycle in SEQ, with about 10 per cent of stations hiking their prices to almost $2 per litre.
Dr Jeffreys said the 30 cent jump was far in excess of the partial excise return and appears to be an attempt to re-establish the price cycle.
“The collapse in the price cycle in the last quarter coincided with a substantial drop in indicative retail margins which estimates how much stations charged motorists on top of the wholesale price,” Dr Jeffreys said.
“Between March and June fuel retailers were charging an average retail margin of 10.7 cents per litre (cpl), half that of the previous quarter (21.2cpl).
“Since 2010, the region’s motorists have been at the mercy of fuel retailers maintaining an increasingly long-price cycle which in recent years has typically lasted for six weeks and seen overnight price hikes of up to 60cpl.
“Over the last few days, we’ve seen more and more stations returning to hiking behaviour with some stations now charging 40cpl more than others in the same suburb. That's about $20 extra to fill an average 50 litre tank.
“If fuel companies succeed in reinstating the cycle, Queensland must look to introduce market regulation quickly to shorten and flatten the cycle to make it fairer for motorists.”